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The UK-Nigeria Remittance Corridor : Challenges of Embracing Formal Transfer Systems in a Dual Financial Environment

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dc.contributor.authorHernández-Coss, Raúl
dc.contributor.authorBun, Chinyere Egwuagu
dc.date.accessioned2012-05-30T16:22:03Z
dc.date.available2012-05-30T16:22:03Z
dc.date.issued2007
dc.description.abstractThe UK-Nigeria remittance corridor has an equal dominance of formal and informal remittance intermediaries. Although several formal financial institutions for transferring money exist in the UK, many people choose to send money informally. More collaboration between the UK and Nigeria is necessary to develop the remittance market, to encourage the use of formal channels, and to enhance the development potential. Among its benefits, the remittance country partnership (RCP) between UK and Nigeria aims to reduce the cost of remittance transfers. The Nigerian government is engaging its diaspora to help spur economic growth. This report recommends that each government focus on improving data collection at its end of the corridor and do more research to provide its policymakers and its private sector with accurate information.en
dc.identifierhttp://documents.worldbank.org/curated/en/2007/01/7735313/uk-nigeria-remittance-corridor-challenges-embracing-formal-transfer-systems-dual-financial-environment
dc.identifier.doi10.1596/978-0-8213-7023-0
dc.identifier.isbn0-8213-7023-5
dc.identifier.urihttps://hdl.handle.net/10986/6654
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesWorld Bank Working Paper No. 92
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNT HOLDERS
dc.subjectACCOUNT-TO-ACCOUNT
dc.subjectACQUISITION
dc.subjectADB
dc.subjectANTI-MONEY LAUNDERING
dc.subjectAVERAGE REMITTANCE
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANK ACCOUNT
dc.subjectBANK BRANCHES
dc.subjectBANK DATA
dc.subjectBANK DRAFT
dc.subjectBANK DRAFT PAYMENTS
dc.subjectBANK OF ENGLAND
dc.subjectBANK TRANSFER
dc.subjectBANK TRANSFERS
dc.subjectBANKING SUPERVISION
dc.subjectBANKS
dc.subjectCASH-TO-CASH
dc.subjectCENTRAL BANKS
dc.subjectCHILD LABOR
dc.subjectCITIZEN
dc.subjectCITIZENS
dc.subjectCITIZENSHIP
dc.subjectCLEARING HOUSE
dc.subjectCOLLECTIVE
dc.subjectCOLLECTIVE REMITTANCES
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMUNITIES OF ORIGIN
dc.subjectCOMMUNITY DEVELOPMENT
dc.subjectCOMPANY
dc.subjectCOMPENSATION OF EMPLOYEES
dc.subjectCONTRIBUTION OF REMITTANCES
dc.subjectCORRESPONDENT BANKS
dc.subjectCOST OF LIVING
dc.subjectCOST OF TRANSFERS
dc.subjectCOUNTRY OF ORIGIN
dc.subjectCURRENCY CONVERSIONS
dc.subjectDATA ON REMITTANCES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT IMPACT OF REMITTANCES
dc.subjectDEVELOPMENTAL IMPACT
dc.subjectDIASPORA
dc.subjectDISSEMINATION
dc.subjectDUE DILIGENCE
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OPPORTUNITIES
dc.subjectELDERLY
dc.subjectELECTRONIC FUNDS
dc.subjectELECTRONIC FUNDS TRANSFER
dc.subjectELECTRONIC PAYMENTS
dc.subjectEMIGRATION
dc.subjectEMPLOYEE COMPENSATION
dc.subjectESTATE
dc.subjectETHNIC GROUP
dc.subjectETHNIC GROUPS
dc.subjectEUROPEAN CENTRAL BANK
dc.subjectEXCHANGE RATE
dc.subjectEXTENDED FAMILY
dc.subjectFAMILY MEMBERS
dc.subjectFARMS
dc.subjectFEDERAL GOVERNMENTS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL PRODUCTS
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SYSTEMS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RATES
dc.subjectFORMAL MONEY TRANSFERS
dc.subjectFORMAL TRANSFER SYSTEMS
dc.subjectFUNDS FLOW
dc.subjectGOVERNMENT INITIATIVES
dc.subjectHOME COUNTRIES
dc.subjectHOUSING
dc.subjectHUMAN TRAFFICKING
dc.subjectHUMANITARIAN AFFAIRS
dc.subjectIMMIGRANTS
dc.subjectINCOME
dc.subjectINDIVIDUALS
dc.subjectINFORMAL REMITTANCE
dc.subjectINFORMAL TRANSFER
dc.subjectINITIATIVES ON REMITTANCES
dc.subjectINTERNATIONAL MONEY ORDER
dc.subjectINTERNATIONAL REMITTANCE
dc.subjectINTERNATIONAL REMITTANCE SYSTEMS
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL STATUS
dc.subjectLEGISLATION
dc.subjectLIMITED
dc.subjectLOCAL CURRENCY
dc.subjectMARKET COMPETITION
dc.subjectMIDDLE EAST
dc.subjectMIGRANT
dc.subjectMIGRANTS
dc.subjectMIGRATION
dc.subjectMILLENNIUM DEVELOPMENT GOAL
dc.subjectMONEY HOME
dc.subjectMONEY LAUNDERING
dc.subjectMONEY TO FAMILIES
dc.subjectMONEY TRANSFER
dc.subjectMONEY TRANSFER OPERATOR
dc.subjectMONEY TRANSFER OPERATORS
dc.subjectMONEY TRANSFERS
dc.subjectMONEY TRANSMITTERS
dc.subjectMUNICIPAL GOVERNMENTS
dc.subjectNATIONALS
dc.subjectNONPROFIT ORGANIZATIONS
dc.subjectNURSES
dc.subjectOFFICIAL DEVELOPMENT ASSISTANCE
dc.subjectOLD AGE
dc.subjectORPHANS
dc.subjectPARTNERSHIP
dc.subjectPEER REVIEW
dc.subjectPERMANENT RESIDENCE
dc.subjectPERSONS
dc.subjectPETROLEUM EXPORTING COUNTRIES
dc.subjectPOLICY
dc.subjectPOSTAL SERVICE
dc.subjectPOVERTY REDUCTION
dc.subjectPRODUCTIVITY
dc.subjectPUBLIC TRANSPORTATION
dc.subjectRECIPIENT COUNTRIES
dc.subjectRECIPIENT OF REMITTANCES
dc.subjectREGULATORY FRAMEWORK
dc.subjectREMITTANCE
dc.subjectREMITTANCE BUSINESS
dc.subjectREMITTANCE CORRIDORS
dc.subjectREMITTANCE FLOW
dc.subjectREMITTANCE FLOWS
dc.subjectREMITTANCE INDUSTRY
dc.subjectREMITTANCE MARKET
dc.subjectREMITTANCE PAYMENT
dc.subjectREMITTANCE PRODUCTS
dc.subjectREMITTANCE SENDERS
dc.subjectREMITTANCE SERVICE
dc.subjectREMITTANCE SERVICE PROVIDERS
dc.subjectREMITTANCE SERVICES
dc.subjectREMITTANCE TRANSACTION
dc.subjectREMITTANCE TRANSACTIONS
dc.subjectREMITTANCE TRANSFER
dc.subjectREMITTANCE TRANSFERS
dc.subjectREMITTANCES
dc.subjectRURAL AREAS
dc.subjectSAHARA
dc.subjectSAVINGS
dc.subjectSEND MONEY
dc.subjectSEND MONEY HOME
dc.subjectSEND REMITTANCES
dc.subjectSERVICE PROVIDER
dc.subjectSET OF RECOMMENDATIONS
dc.subjectSETTLEMENT SYSTEMS
dc.subjectSKILLED MIGRANTS
dc.subjectSOCIAL WELFARE
dc.subjectSOCIETY
dc.subjectSPECIFIC REMITTANCE
dc.subjectSUB-SAHARAN AFRICA
dc.subjectSUBSIDIARY
dc.subjectSURVEY OF REMITTANCE PRODUCTS
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTERRORIST
dc.subjectTRANSFER CHANNELS
dc.subjectTRANSFER COST
dc.subjectTRANSFER COSTS
dc.subjectTRANSFER FEE
dc.subjectTRANSFER MECHANISMS
dc.subjectTRANSFER MONEY
dc.subjectTRANSFER PROCESS
dc.subjectTRANSPORT
dc.subjectUNION
dc.subjectUNIVERSITY EDUCATION
dc.subjectUNSKILLED LABOR
dc.subjectURBAN AREAS
dc.subjectUSES OF REMITTANCES
dc.subjectVALUE OF REMITTANCES
dc.subjectWAGES
dc.subjectWESTERN EUROPE
dc.subjectWORKER REMITTANCES
dc.subjectWORKERS REMITTANCES
dc.titleThe UK-Nigeria Remittance Corridor : Challenges of Embracing Formal Transfer Systems in a Dual Financial Environmenten
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.disclosure2010-04-20
okr.doctypePublications & Research::Publication
okr.doctypePublications & Research::Publication
okr.docurlhttp://documents.worldbank.org/curated/en/2007/01/7735313/uk-nigeria-remittance-corridor-challenges-embracing-formal-transfer-systems-dual-financial-environment
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeAgriculture
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeFinance and Markets
okr.globalpracticeHealth, Nutrition, and Population
okr.identifier.doi10.1596/978-0-8213-7023-0
okr.identifier.externaldocumentum000090341_20070618142752
okr.identifier.internaldocumentum7735313
okr.identifier.report39998
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/06/18/000090341_20070618142752/Rendered/PDF/399980PAPER0UK101OFFICIAL0USE0ONLY1.pdfen
okr.region.administrativeAfrica
okr.region.administrativeEurope and Central Asia
okr.region.countryNigeria
okr.region.countryUnited Kingdom
okr.topicHealth, Nutrition and Population::Population Policies
okr.topicLaw and Development::Corporate Law
okr.topicAgriculture and Farming Systems
okr.topicBanks and Banking Reform
okr.topicMacroeconomics and Economic Growth::Remittances
okr.topicFinance and Financial Sector Development
okr.topicHealth, Nutrition and Population
okr.topicAgriculture
okr.unitOffice of the Publisher (EXTOP)
okr.volume1 of 1
relation.isSeriesOfPublication3e126efc-de2f-4a95-be5b-bd2e430a4843
relation.isSeriesOfPublication.latestForDiscovery3e126efc-de2f-4a95-be5b-bd2e430a4843
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